47. Transfer by co-owners of share in common property. Where several co-owners of immoveable property transfer a share therein without specifying that the transfer is to take effect on any particular share or shares of the transferors, the transfer, as among such transferors, takes effect on such shares equally whereKEEP READING
48. Priority of rights created by transfer. Where a person purports to create by transfer at different times rights in or over the same immoveable property, and such rights cannot all exist or be exercised to their full extent together, each later created right shall, in the absence of aKEEP READING
49. Transferee’s right under policy. Where immoveable property is transferred for consideration, and such property or any part thereof is at the date of the transfer insured against loss or damage by fire, the transferee, in case of such loss or damage, may, in the absence of a contract toKEEP READING
50. Rent bona fide paid to holder under defective title. No person shall be chargeable with any rents or profits of any immoveable property, which he has in good faith paid or delivered to any person of whom he in good faith held such property, notwithstanding it may afterwards appearKEEP READING
51. Improvements made by bona fide holders under defective titles. When the transferee of immoveable property makes any improvement on the property, believing in good faith that he is absolutely entitled thereto, and he subsequently evicted therefrom by any person having a better title, the transferee has a right toKEEP READING
52. Transfer of property pending suit relating thereto. During the pendency in any Court having authority within the limits of India excluding the State of Jammu and Kashmir or established beyond such limits by the Central Government of any suit or proceedings which is not collusive and in which anyKEEP READING
53. Fraudulent transfer. (1) Every transfer of immoveable property made with intent to defeat or delay the creditors of the transferor shall be voidable at the option of any creditor so defeated or delayed. Nothing in this sub-section shall impair the rights of a transferee in good faith and forKEEP READING
53A. Part performance. Where any person contracts to transfer for consideration any immoveable property by writing signed by him or on his behalf from which the terms necessary to constitute the transfer can be ascertained with reasonable certainty, and the transferee has, in part performance of the contract, taken possessionKEEP READING
CHAPTER III – OF SALES OF IMMOVABLE PROPERTY Section 54. “Sale” Defined ‘Sale‘ is a transfer of ownership in exchange for a price paid or promised or part-paid and part-promised. Sale how made- Such transfer, in the case of tangible immoveable property of the value of one hundred rupees andKEEP READING
55. Rights and liabilities of buyer and seller. In the absence of a contract to the contrary, the buyer and the seller of immoveable property respectively are subject to the liabilities, and have the rights, mentioned in the rules next following, or such of them as are applicable to theKEEP READING
56. Marshalling by subsequent purchaser. If the owner of two or more properties mortgages them to one person and then sells one or more of the properties to another person, the buyer is, in the absence of a contract to the contrary, entitled to have the mortgaged-debt satisfied out ofKEEP READING
DISCHARGE OF ENCUMBRANCES ON SALE 57. Provision by Court for encumbrances and sale freed therefrom. (a) Where immoveable property subject to any encumbrances, whether immediately payable or not, is sold by the court or in execution of a decree, or out of court, the court may, if it thinks fit,KEEP READING
CHAPTER IV – OF MORTGAGES OF IMMOVEABLE PROPERTY AND CHARGES Section 58 TPA: Mortgage, mortgagor, mortgagee, mortgage-money and mortgage-deed defined. (a) A mortgage is the transfer of an interest in specific immoveable property for the purpose of securing the payment of money advanced or to be advanced by way ofKEEP READING
59. Mortgage when to be by assurance. Where the principal money secured is one hundred rupees or upwards, a mortgage other than a mortgage by deposit of title deeds can be effected only by a registered instrument signed by the mortgagor and attested by at least two witnesses. Where theKEEP READING
59A. References to mortgagors and mortgagees to include persons deriving title from them. Unless otherwise expressly provided, references in this Chapter to mortgagors and mortgagees shall be deemed to include references to persons deriving title from them respectively. Transfer of Property Act full bare act. Download Transfer of Property ActKEEP READING
RIGHTS AND LIABILITIES OF MORTGAGOR 60. Right of mortgagor to redeem. At any time after the principal money has become due, the mortgagor has a right, on payment or tender, at a proper time and place, of the mortgage-money, to require the mortgagee- (a) to deliver to the mortgagor theKEEP READING
